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Approximately what was the percent increase in the price of aluminum f
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29 May 2023, 08:39
29 May 2023, 08:39
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Question Stats:
50% (01:03) correct
50% (02:05) wrong based on 16 sessions
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Approximately what was the percent increase in the price of aluminum from 1985 to 1995 ?
A. 8%
B. 16%
C. 23%
D. 30%
E. 42%
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Re: Approximately what was the percent increase in the price of aluminum f
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31 May 2023, 04:00
31 May 2023, 04:00
Expert Reply
OE
We’ll need to use the little chart for this one. In 1985, the price of aluminum was $1,900 per ton. In 1995, the price of aluminum was $2,700 per ton. Now let’s use the formula: 2,700 − 1,900 = 800, so that’s the difference. This is a percent increase problem, so the original number is the smaller one. Thus, the original is 1,900, and our formula looks like this: Percent change = 800/1900 * 100=800/19
At this point you could divide 800 by 19 to get the exact answer, but because they’re looking for an approximation, let’s round 19 to 20. What’s 800 ÷ 20? That’s 40, and (E) is the only one that’s close.
We’ll need to use the little chart for this one. In 1985, the price of aluminum was $1,900 per ton. In 1995, the price of aluminum was $2,700 per ton. Now let’s use the formula: 2,700 − 1,900 = 800, so that’s the difference. This is a percent increase problem, so the original number is the smaller one. Thus, the original is 1,900, and our formula looks like this: Percent change = 800/1900 * 100=800/19
At this point you could divide 800 by 19 to get the exact answer, but because they’re looking for an approximation, let’s round 19 to 20. What’s 800 ÷ 20? That’s 40, and (E) is the only one that’s close.
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